Just Completed SL Rehab questions on credit reporting

[Anonymous]

I just completed a SL rehab and paid my last payment on the 24th. I checked with the US department of ED and the loan has been picked up by a new servicer. I requested a letter from the US dept of ED and started the dispute process with all 3 credit bureaus. These are reporting as 11 different tradelines and really dragging my score down. My questions are after rehabilitation what should the tradelines reflect? What kind of score increase to expect? I did a previous rehab program with other SL tradelines and Great Lakes removed the lates and made them paid as agreed while Navient changed their tradelines to paid as agreed without removing the lates, and AES didn't remove the lates and those previous rehabbed loans show as closed 120 days late. What should I do about the inconsistency

[Anonymous]

Technically, all they have to do is update the comments to show pays/paid as agreed.  Some people (myself included), have been lucky enough to have the old tradelines or payment history deleted.  I think the end result has a lot to do with who the servicer was and what they are willing to do.  I too have 11 student loans and was able to get all of the tradelines completely deleted from TU and EX.  EQ is being a little more difficult, with updated statuses and supposedly deleted payment history, but when I looked the history was still there, so I am re-disputing.  I do still have one that for some reason hasn't deleted the payment history but has current in the comments, working on that one.  I have also read that all lates except those immediately leading up to the default should be deleted.  Did you have all of these servicers at the same time?

[scvbd99]

Yeah, all the original servicers/creditors are obligtated to do is get rid of any indication that the loan was in deafult, and then close the account to get it ready for a new servicer to pick up. 

That's where the consistency stops. After that, It's completely up to them about whether or not to remove any lates. 

Like most on here, I had a few who got rid of all negative reporting, and a few who left all lates on. It did me absolutely no good to try begging them to remove the lates, but I guess some on here have had success. 

It's been almost 4 years since I finished rehab, and the bureaus aren't lying when they say old lates have less and less impact on your score and ability to get credit. Even with 10+ lates still showing on those old tradelines, I was still able to get prime rates on both a mortgage and car loan in the past year.

I don't know for sure if it helped me with underwriters, but I did consolidate my multiple loans right after rehab. That  made all of the previous accounts that had only been open for a few weeks get closed and say either paid in full or closed/transferred. 

[Anonymous]

Thanks! One of the old loan servicers AES has the current payment status as 120 days late. Shouldn't it show  paid in full. I am tempted to call the Omsbudsman office as there needs to be some consistency in the reporting. Not removing the lates is one thing but not even being consistent in what the accounts show is another.